Michael Carlson, Lars Lyberg: Big Data

The term Big Data is usually used to describe large data sets with sizes beyond the ability of traditional software tools to capture, curate, manage, and process the data within a tolerable time frame. However, size isn’t everything; in addition to volume, data variety and velocity are included in the definition making up the three V’s of big data – volume, variety and velocity. A key feature in defining Big Data is complexity. Big Data presents both opportunities and risks to e.g. national statistical agencies and the production of statistics. Although access and availability is increasing and tools are being developed, a crucial problem is that little is known about the underlying empirical micro processes that lead to the emergence of Big Data. Where does statistics fit in the world of Big Data? We will try to explain Big Data and discuss how as it may affect the production of (official) statistics and what the future implications and challenges might be to statisticians and researchers. Perhaps more new questions will arise from the seminar than answers provided.